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Europe drops in American gas import rankings
Data indicate that Europe accounted for less than half of U.S. liquefied natural gas (LNG) exports in June, primarily due to shipments being directed toward Asia, where prices have risen. Shipments to Europe decreased to 4.41 million tons out of a total of 10.6 million tons, marking a decline from May. This shift is attributed to weak European demand and exporters' preference to send shipments eastward, as the Asian (JKM) price index rose to an average of $17.33 per million British thermal units, compared to $13.19 in Europe. Additionally, some shipments were redirected to Latin America and other countries amidst traders' hesitation to purchase amid the prospects of increased global supply.
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